“Netflix has demonstrated extraordinary long-term success under the leadership of Reed and the board,” a Netflix rep said in a statement to the Wall Street Journal. The company declined to comment further.
The non-binding vote was conducted at the Netflix annual shareholders meeting at the company’s headquarters in Los Gatos, Calif. Hastings co-founded Netflix in 1997, and has been chairman since its inception.
A proposal to separate the CEO and chairman roles was approved at Netflix’s 2013 shareholders meeting, but the board did not act on the resolution.
Also Monday, Netflix shareholders OK’d a proposal that requires an investor vote if the company wants to adopt a “poison pill” stockholder-rights plan, which is designed to prevent a hostile takeover. In December 2013, the company terminated its previous poison-pill provision after billionaire investor Carl Icahn cut his stake in the company in half.
UPDATE: On Tuesday, Netflix disclosed the results of the shareholder votes in a filing with the Securities and Exchange Commission. Of shares voted, 53% were against establishing an independent chairman (versus 27% on the 2013 resolution). Among other business, shareholders also officially re-elected Hastings to the board along with two independent directors: Technology Crossover Ventures general partner Jay Hoag and A. George “Skip” Battle, former exec chairman of Ask Jeeves.